The Traderszone Network

Published in TZ Latest News 24 January, 2017 by The TZ Newswire Staff

Malls Owners Rush For The Exits As Mall-Backed CMBS Defaults Soar

Last week we wrote about the epic collapse of the Galleria Mall at Pittsburgh Mills which sold for $100 after once being appraised for $190 million shortly after being opened in 2005 (see “Pittsburgh Mall Once Worth $190 Million Sells For $100“).  Unfortunately for mall owners, while the Pittsburgh Mills Galleria is an extreme example, crashing mall valuations are hardly an anomaly these days.  In fact, just a few weeks ago read more